Insurance Authority welcomes the reappointment of Chief Executive Officer

14 August 2020

The Insurance Authority (IA) today (14 August 2020) welcomed a decision made by the Government to reappoint Mr Clement Cheung as its Chief Executive Officer for a term of three years until 14 August 2023.

“Mr Cheung is a seasoned public administrator with first-hand experience of prudential supervision under stressful conditions during the global financial crisis. He played an instrumental role in mapping out a holistic strategy to enhance the global competitiveness of our insurance industry whilst strengthening protection for policy holders. I am glad that he would continue to support us on this journey,” said Dr Moses Cheng, Chairman of the IA.

“It is my pride and honour to be given an opportunity to serve the community alongside Dr Cheng and members of the IA Board for another tenure of three years,” Mr Cheung said.

Reflecting on his work done in the past two years, Mr Cheung added that “We have made many notable achievements such as launching of the Qualifying Deferred Annuity Policy, enactment of legislative changes to reinforce the status of Hong Kong as an insurance hub, rolling out of a direct regulatory regime for insurance intermediaries and granting of authorization to four virtual insurers. I would like to thank the team of staff in the IA for their dedication and resolve in pursuing initiatives to promote business development and uphold market stability.”

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